Wall Street Is Getting a New Fear Gauge. Meet the One-Day VIX
- Cboe plans to launch a one-day version of VIX Index on Monday
- Angst has grown over VIX effectiveness in zero-day options era
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About a month ago, as Wall Street stared down the barrel of an incipient banking crisis, the investment world’s most-watched gauge of market volatility did a funny thing: It didn’t do much.
Sure, the Cboe Volatility Index — a measure of expected swings in the S&P 500 Index also known as the VIX — climbed. But even at its intraday peak, it didn’t come close to levels seen multiple times just a year ago.